Effect of increased RES penetration on the system marginal price of the Greek electricity market

This paper analyzes the effect that increased RES penetration in the energy production mix of Greece has on the system marginal prices, the total CO₂ emissions, the total payment of the consumers for the energy withdrawal and the RES uplift charge. The market clearing algorithm of the Greek day-ahead electricity market is used for the simulation of the Greek energy market under ten different scenarios for RES installed capacity. The units´ emissions cost is appropriately incorporated in their total production cost function. Valuable conclusions are drawn from the application of the scenarios on four typical days of year 2009.